Bitcoin fell to about $83,000 on Monday as a broader cryptocurrency retreat hit smaller tokens particularly hard. The CoinDesk 100 index dropped 2.6% to 1,874.56, with 91 of its 100 constituents trading lower. The decline came alongside a renewed rise in oil prices and losses across several traditional markets.
According to CoinDesk, Bitcoin was down 1.7% since midnight UTC and 2.1% over 24 hours. The pullback was sharper among altcoins, many of which had been among Friday’s strongest performers. Quant fell 16% after gaining 39% during Friday’s session, while The Graph declined 12% after a 14% advance. Ondo also dropped 12%.
The reversal was concentrated in the sectors that had led the previous advance. The DeFi Select Index fell 6.4% on the day and 7.3% over 24 hours. The CoinDesk Computing Index lost 3.2% on the day and 5% over 24 hours. DeFi tokens including Uniswap, Morpho and Ondo were among the notable decliners.
Oil and wider markets add pressure
The market move followed a renewed rise in energy prices. Brent crude climbed back above $100 a barrel to $100.83, up 3.2% on the day. The increase followed President Donald Trump’s rejection of Iran’s latest conditions for reopening the Strait of Hormuz. Those conditions included the release of frozen Iranian funds, the lifting of oil sanctions and an end to the U.S. naval blockade of Iranian ports.
The simultaneous declines in crypto and traditional assets suggested that the pressure was not limited to digital tokens. Gold fell 3.3% to $4,144, silver dropped 5.1% to $61, and U.S. equity futures also moved lower. S&P 500 futures were down 0.44%, while Nasdaq 100 futures fell 0.95%. The dollar index edged up 0.06% to 101.09.
Bitcoin’s decline was relatively modest compared with several altcoins. Bitcoin Cash fell 7.7% to $306.69 and was down 10% over 24 hours. Sui declined 6.2%, while Solana fell 2.9% to $118.41. Older layer-1 tokens were among the few gainers: Algorand and XDC Network each rose 2.3%, while JUST gained 1.3% and IOTA added 1%.
Hedera’s HBAR was the main outlier. It rose 13% since midnight and 14% over 24 hours, trading around $0.11, making it the only CoinDesk 100 constituent to gain more than 3% on the day. The source said there was no fresh news behind Monday’s move. It noted that The Hashgraph Group had listed its Hedera-based IDTrust identity platform on IBM’s cloud catalog on September 23.
Derivatives point to position-closing
Crypto derivatives activity indicated that traders were closing positions rather than aggressively adding new exposure. Trading volume rose 70% over 24 hours to $172 billion, while open interest fell 3% to $150 billion. Open interest measures the value or number of outstanding derivatives contracts, so rising volume alongside falling open interest can indicate that existing positions are being unwound.
The 24-hour taker long/short ratio stood at 46.9% to 53.1% at 09:50 UTC, giving aggressive sellers a modest advantage. Bitcoin futures open interest fell to 650,000 BTC, its lowest level since March. Funding rates were negative across major exchanges, meaning the remaining derivatives positioning leaned bearish.
Ether futures open interest declined to 12.85 million ETH, down from 13.95 million on July 1 and a late-May peak above 15.65 million. That reduction occurred even as Ether gained 68% since July 1, suggesting that spot buying, rather than leveraged futures activity, had driven that rally. Solana futures showed a similar pattern.
Other markets showed mixed positioning. XRP open interest reached a four-week high of 2.46 billion XRP before easing to 2.37 billion. HBAR open interest climbed to a record 2.30 billion while its spot price rose 48% over 24 hours, a combination that suggested fresh long positions. However, negative open-interest-adjusted cumulative volume delta and funding just above zero indicated that aggressive buying was not driving the move and that short positions could be building against the rally.
Moneyiar market picture
Moneyiar market data at the stated times showed Bitcoin at $83,820.05, down 0.61% over 24 hours but up 3.2% over seven days, as of September 25 at 22:04 Tehran time. Litecoin was $70.86, down 1.03% over 24 hours and up 24.04% over seven days, according to data recorded at 22:03.
Altlayer traded at $0.007935, up 2.12% over 24 hours and 11.96% over seven days. WINkLink stood at $0.0000446226, up 13.15% over 24 hours and 11.54% over seven days. These Moneyiar figures were recorded before the market move described above and therefore provide a separate time-stamped market snapshot.
Despite Monday’s selloff, CoinMarketCap’s altcoin season index remained at 65 out of 100, its highest reading in more than three months. Options activity was mixed: the most traded Bitcoin contract on Deribit was a $84,000 put expiring September 30, while Ether trading was led by a $2,850 call expiring October 20. Put options are commonly used to hedge against declines, while calls provide exposure to potential upside.
